| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 28th | Poor |
| Amenities | 73rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2812 Vanstory St, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2000-12-22 |
| Transaction Price | $680,000 |
| Buyer | VANSTORY APARTMENTS LLC |
| Seller | WHEELER MARY LOIS |
2812 Vanstory St Greensboro 24-Unit Multifamily
Renter demand is supported by a high neighborhood renter-occupied share and a 2001 vintage that competes against older local stock, according to WDSuite’s CRE market data. Monitor lease-up pacing given softer neighborhood occupancy.
The property sits in an Inner Suburb of Greensboro with an A neighborhood rating that is competitive among Greensboro-High Point neighborhoods (ranked 34 out of 245). Local amenity access is a strength: grocery availability ranks competitively in the metro and scores in the high national percentiles, helping daily convenience and resident retention.
For multifamily fundamentals, the neighborhood shows a high share of renter-occupied housing units (well above the national average), signaling a deeper tenant base for leasing. By contrast, the neighborhood occupancy rate trails metro norms, so investors should underwrite to prudent lease-up and renewal assumptions rather than assuming rapid absorption.
Within a 3-mile radius, WDSuite indicates modest recent population growth and a larger increase in households, expanding the renter pool. Forward-looking data points to additional gains in households and rising incomes alongside projected rent growth, which can support occupancy stability and measured pricing power when managed with disciplined renewals.
Ownership costs in the area are elevated relative to incomes (high national percentile for value-to-income ratio), which tends to sustain reliance on rental housing. Median school ratings in the neighborhood trail national norms, which may shape the unit mix that performs best (e.g., demand from singles and roommates versus families). Limited nearby parks are a known trade-off, partially offset by strong access to groceries, pharmacies, cafes, and restaurants.
Safety indicators are mixed and should be contextualized at the neighborhood level rather than the block. Overall crime ranks near the middle of Greensboro-High Point neighborhoods (109 out of 245) and sits below the national median in safety terms. Property crime levels are mid-pack in the metro (128 out of 245), but recent year-over-year improvement is strong by national comparison, indicating a favorable trend.
Violent offense rates benchmark in lower national percentiles, so prudent operating practices (access control, lighting, and coordination with property management) are advisable. Investors may view the downward trend in both violent and property offenses as a constructive signal, while maintaining conservative underwriting and asset-management plans.
Proximity to major headquarters across apparel, tobacco, banking, healthcare diagnostics, and consumer goods supports a broad employment base and commuter convenience for renters. Nearby anchors include VF, Reynolds American, BB&T Corp., Laboratory Corp. of America, and Hanesbrands.
- VF — apparel (6.5 miles) — HQ
- Reynolds American — tobacco (22.7 miles) — HQ
- BB&T Corp. — banking (22.7 miles) — HQ
- Laboratory Corp. of America — healthcare diagnostics (23.2 miles) — HQ
- Hanesbrands — consumer goods/apparel (25.6 miles) — HQ
2812 Vanstory St offers 24 units built in 2001, giving the asset a competitive edge versus the neighborhood’s older average stock while leaving room for targeted updates to systems and interiors as part of a value-add plan. The submarket features strong renter concentration and broad amenity access, which can support leasing depth; however, neighborhood occupancy runs softer than the metro median, warranting conservative lease-up and renewal assumptions.
Within a 3-mile radius, WDSuite indicates recent growth in households and rising incomes with further increases forecast, expanding the tenant base and supporting rent growth expectations. According to CRE market data from WDSuite, ownership remains relatively high-cost versus income levels locally, which can reinforce reliance on multifamily housing even as operators should manage affordability pressure to protect retention.
- 2001 vintage competes well versus older neighborhood stock, with selective upgrades offering value-add potential.
- High renter-occupied share and strong daily amenities support leasing depth and resident retention.
- 3-mile household growth and income gains expand the renter pool, aiding occupancy stability and pricing power.
- Elevated ownership costs relative to incomes tend to sustain multifamily demand in this location.
- Risks: softer neighborhood occupancy, affordability pressure (high rent-to-income ratios), and mixed safety metrics require disciplined operations.